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The new ownership states that while the acquisition will provide immediate cash flow, Merion's investment strategy includes the implementation of a value-add strategy including: unit interior upgrades, clubhouse and common area refresh, LED lighting upgrades, and property amenity upgrades.
Nightingale Properties and Wafra Capital Partners have secured a $145 million fixed-rate loan from SL Green and an undisclosed party for the acquisition to acquire 111 Wall St. in Downtown Manhattan.
Eliadis most recently served at Walgreen Co. for nine years in the real estate and finance divisions. His appointment follows the October 2019 hiring of CEO Joe Brady, who previously had served as divisional VP for real estate at Walgreen Co.
Another key component of the program is to train Individuals for in-demand jobs by connecting educational and training programs to industry needs and preparing adults for high-quality jobs throughout their entire careers.
Its year-end transactions included a $10-million loan to finance the reconstruction of Seaside Heights' historic Belle-Freeman Pier, which was destroyed by Superstorm Sandy and a subsequent fire.